(By Balaseshan) LSI Industries Inc. (NASDAQ: LYTS) said it has received a contract to supply and install graphics products at over 700 stores for a leading grocery chains as part a re-imaging initiative.
The contract is valued at about $5.5 million, and the installation is expected to be completed during LSI's fiscal 2013 third quarter. It is expected that all revenue will be recorded during LSI's fiscal third quarter.
Chief Executive Robert Ready said LSI is ideally suited for this project due to the short turnaround time required for completion, the expanded geographic scope of the project, and the broad number of graphics products and technologies that will be utilized.
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LSI will utilize its state-of-the-art, world-class graphics facilities to build the graphics components, using a wide array of processes and materials.
"This project is in line with the resumption of demand that we are beginning to see in the graphics industry. We expect to see a continuation of this trend throughout fiscal 2013 and beyond as graphics customers realize the competitive benefits of a fresh look and updated image," said David McCauley, President, LSI Graphics Solutions.
LSI is a provider of corporate visual image solutions through the combination of screen and digital graphics capabilities, a variety of indoor and outdoor lighting products, lighting control systems, and related professional services. The company operates in four segments: Lighting Segment, Graphics Segment, Electronic Components Segment and an all Other Category.
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LYTS closed Friday's regular session down 0.96% at $6.22. The stock has been trading between $5.45 and $7.70 for the past 52 weeks.